《大行報告》瑞信上調貝殼-W(02423.HK)目標價至69元 評級「跑贏大市」
瑞信發表報告指,貝殼-W(02423.HK)首季收入按年升62%至203億元人民幣,高於預期,受惠於現有房屋及新房屋交易的實力,而非通用會計準則純利達36億元人民幣,遠勝於預期,主要是受到現有房屋交易所推動。
該行指,公司次季指引達18.5億至19億元人民幣,高於投資者預測,主要是現有房屋交易數量於5月上半個月穩定下來,穩健增長;該行預測,現有房屋及新房交易量分別錄得21%及32%增長。
該行指,近期股價表現疲軟主要是投資者對公司下半年前景擔憂。該行認為集團目前仍處於上升週期的較早階段,及公司將受惠於其市場份額提升,並跑贏行業,相信復甦走勢明確。該行預期,公司今年調整後純利達80億元人民幣,相信在成本優化後市場穩定情況下可持續,將其目標價由63元上調至69元,維持評級「跑贏大市」。(ca/k)
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